711 E 50th Street, Austin TX 78751

711 E 50th Street

711 E 50th Street

Hyde Park duplex listing in Central Austin. It is conveniently located between The Triangle and Mueller, just 3 miles North of UT. The floor plan and location may appeal to owner occupant, mother-daughter or roommates.

Hyde Park Location

Both units feature hardwood floors, with separate utilities for gas and electric. Each unit has its own utility room washers and dryers. The property is set on a large lot and tree-lined street. Unit A is a 2 bedroom / 2 bath, unit B is a 1 bedroom 1 bath. The house was built in 1950. It is 1,789 square feet (appraiser).

  • Single Story
  • Space for multiple car parking
  • Storage sheds convey
  • Refrigerators, washers and dyers convey
  • List Price:  $415,000

What kind of a home are you?

bungalowThey say you are what you eat.  What kind of home you purchase can say something about you as well.  Austin is known for being weird.  The eclectic mix of politics, religion and style are as unique as the tastes in architecture, landscaping and design of Austinites who call this city home. There is quite a mix of homes for sale in Austin.

Homes for Sale in Austin offer a unique blend of vintage and modern designs

I have a client looking in South Central Austin right now, specifically in zip code 78704. We have discussed how you can just turn a corner and be in a different neighborhood with a completely different vibe.  I’ve had clients in the past who refer to master planned communities as ‘Disney Word’, because all of the homes conform to the same aesthetic tone. Other neighborhoods here look like something out of storybook with bungalow style homes and lemonade porches.

Bungalow Homes for Traditional Buyers in Austin

I have found, more often than not, that who you are, as a buyer, has a lot to do with what type of home you pick.  Buyers who like antiques, nostalgia or tend to like structure, tend to like colonial and bungalow style homes.  These buyers don’t care if the floors creek, have no finish and are original from the 1940’s.  To them, the floors as real wood and they appreciate the history and authenticity they represent.  These traditional buyers also like defined rooms. They like a formal dining room, separate from the kitchen and other rooms, because to them every room has a unique purpose and therefore should have a unique identity, which may simply mean a different paint color.

Dated homes ready for a remodel attract creative types in Austin

Unlike traditional, progressive buyers roll with the times.  In my experience these buyers tend to be creative, artist types who don’t always look at a house for what it is… but rather what it could be.  These buyers are deciding what walls they are knocking down and how they are going to expand the kitchen.  These are the dreamers who know very well they may never get to every project they envision, but see the potential and possibility.

Modern Austin homes for buyers who think out of the box

Lastly, modern buyers are similar to progressive type, but have a flare for drama.  These buyers are drawn to open floor plans and like mid-century, contemporary and modern design.  They feel boxed in with too many walls.  They like vaulted ceilings with a uniform tone between living areas.  To some people, these homes look like office buildings, but to modern home buyers, they are dramatic and unique – a work of art in their own right.

The funny thing is that you typically don’t like what you grew up with.  For example, I grew up in a mid-century modern single story home, but my brother, sister and I have always lived in 2-story traditional homes.  I find this to be the case with more of my buyers than not.  Maybe it’s the rebel in us or simply that we know deep down change is good.

Holiday Season Home Inventory in Austin

house

Once upon a time November and December were the months that home buyers slowed down and investors came out of hibernation. During the holiday season days are shorter, not only because of the amount of daylight hours, but because of the added tasks taken on this time of year. Shopping for presents, food, cleaning, parties and travel can add to the daily grind and often put the thought of buying a home on the back burner. Historically, with fewer buyers in the real estate market this time of year, inventory would tend to rise a bit because houses would tend to stay on the market longer than spring and summer. With a larger supply of homes available, prices would tend to fall and investors would enter the market to get a good deal or two.

Austin Home Sales

That was then, this is now. The Austin real estate inventory hasn’t really grown that much in the past month and in many select markets, it has only gone down which has pushed prices up. The home buyer that expected to be settled by now who had plans to host Thanksgiving dinner is still in the real estate market. Interest rates and home prices have gone up in the last 6 months, but inventory has not.

Inventory on Austin Investment Properties

The inventory of multiple family units, like duplexes, has not increased either. The buyer pool albeit is smaller, but the supply and demand is not any more level in that market which is leading to multiple offers, even for investors.

Keep the New Home Bug Alive during the Holidays

Do not cross that new home off your holiday wish list. Stay in the market at whatever level you can. It is a lot easier to find the time to see one or two houses a week you really might like, than to see 10 you really won’t, which is what happens when buyers start over. Buyers who bow out this time of year with too much to do will literally be starting from scratch in January along with a new crop of people with New Year’s resolutions to buy a new home.

Finding the perfect home is often about being in the right place, at the right time. If it’s meant to be while everyone else is at the mall, then so be it.

Just Sold in Barton Hills

1304 Robert E LeeJust sold, 1304 Robert E Lee Road in Barton Hills offers nearly 3,000 square feet of living space in this 2-story duplex.  Side A has 3 bedrooms, 2 1/2 baths and a loft space, with the master located on the main floor.  Side B features 3 bedrooms and 2 1/2 baths with the master on the second floor.  Each side of the duplex has it’s own private outdoor yard space, a wood burning fireplace, separate utility closets and carport space.

1304 Robert E Lee Road, Austin, TX 78704

1304 Robert E lee Road was an attractive investment property due to it’s hot 78704 location.  The zip code 78704 in Austin is the home of Zilker Park, Barton Springs Restaurant Row, South Congress Avenue in the SoCo District, the Town Lake Hike & Bike Trail, Lady Bird Lake, the SoLa District on South Lamar and the SoFi District on South First.

Barton Hills, Austin 78704

1304 Robert E Lee Road is very close to Barton Springs Pool, Zilker Park and the Umlauf Sculpture Garden.  This Luxury location is convenient when Austin’s local festivals like the Zilker Park Kite Festival, SXSW and the Austin City Limits Music Festival are taking place.

New Year New Home

New yearsSellers had much to do leading up to Christmas, which created a slowdown in terms of new inventory for Austin Real Estate coming on the market. Have no fear your search will render new results over the next few days as people are able to clean up from the holiday, family and friends go back to the daily grind and our schedules go back to normal. I expect your inventory will pick up over the next week and buyers will as well.

If you aren’t on a custom home search with me and are considering purchasing a home in 2013, now is the time to contact me.

Real Estate Austin

The Austin real estate market is booming! Here are some fun facts:

  • Austin will have 60,000 new jobs over the next 2 years.
  • The Austin unemployment rate dropped to 4.9% (the national average is 7.8%)
  • 130,000 people will be moving to Austin over the next 2 years
  • Apple may become Austin’s largest employer
  • Austin home sales could increase 20% to 25% over the next 12 to 18 months.
  • All-cash transactions made up 30 percent of all home sales in November 2012
  • 30 percent of November home purchases were first-time buyers
  • Investors made up 19 percent of all closings in November

Homes for Sale in Austin

From what I have read the future over the next 2 years looks very bright. As the price of homes rise in Austin, the how far your dollar will go decreases. For example, if economists are right, you will need to pay $240,000 in the future to get a house that is now worth $200,000.

I wish you a safe, happy and prosperous 2013!

Austin Multi-Family Investment Properties

The Austin real estate market has experienced just as much sales growth over the last year for multi-family residences as it has for single family houses. Austin duplexes, tri-plexes, four-plexes, condominium and apartment developments are all considered multi-family real estate. Low inventory coupled by high occupancy and higher rents are creating increased positive flows which is fueling demand. So, how did we get here?

It all comes back to lack inventory and what had been a slowdown of development projects. The recession and the collapse of the sub-prime market are associated with job loss with increases in foreclosures and short sales. When banks started losing money they tightened the criteria for getting a loan, but also cut back on the development capital used to fund multi-family projects.

Investing in Austin

Two tenant profiles spiked very quickly in a short amount of time: the single family home owners who now have to rent and the first rental opportunity for the graduates who are now employed. What did not spike initially were the multi-family development projects to house them.

Four years ago we had plenty of housing. Although the downtown Austin skyline changed very quickly in 2007, it leveled out fairly fast. Some condominium development was even altered or placed on the backburner which help prevent what would have been over saturation.

Austin Multi-Family Homes

Now Austin is playing catch up. You only need to take a short drive around Austin to see that times have changed and new projects have broken ground. As Austin investment properties continue to be developed, lease amounts will level out a bit. Keep in mind though that Austin keeps growing. Half of my active client base right now does not even live in Austin – they are moving here. The need for Austin multi-family properties will always be in demand for both investors and tenants alike.

Vacation is Over

I went to the East Coast to visit some family and friends.  Though I was only 20 minutes from the hustle and bustle of New York City, the area I grew up in still has many unemployed and houses are certainly not selling the way they are here.  Let’s be grateful and thankful that overall Austin has a strong stable economy. 

Last week was a big vacation and shopping week as people started to prepare for the new school year.  I do have a new listing in Sendera at 9432 Collazo Way, which is in South Austin and very close to the new Alamo Drafthouse on Slaughter.  I’ve also been working in Austin’s popular Central zip code 78704 lately for a condo buyer and an investor seeking a duplex.  For a change of pace, I sold a house in Buda to a repeat client and her husband in the community of Leisurewoods.  We looked at homes for about 2 years before we found the right house.

Austin Vacation Home Rentals

Last week, the City of Austin finally adopted an ordinance to put some controls in place regarding Austin vacation home rentals.  Vacation home rentals are very popular in areas of Austin like Barton Hills and Travis Heights because of the close proximity to local Austin attractions like Downtown, South Congress Ave and Zilker Park.  Vacation home rentals are the ideal alternative to staying in a hotel because they provide an added level of warmth and comfort and are often closer to an Austin attraction.  As the popularity of vacation home rentals increase, so do the problems associated with it simply by the fast overturn of the tenants renting these properties.  Noisy vacationers have become cumbersome for certain communites in Austin, so having an ordinance will allow the City to control the inventory of properties and impose a tax on them as well.

Austin Short Term Rental Rules

  • All short-term rental properties are required to be registered with the City of Austin.
  • Upon registration, all STRs must demonstrate certificate of occupancy or proof of inspection.
  • No more than 3% of single-family residences may be used as a non-owner occupied STR in a census track.
  • A packet containing viable community information must be shared with the tenant.
  • Short-term leases pertaining to home sales/closing terms (leasebacks) will not be affected by this ordinance.

Austin Investment Homes

The market is hot right now for Austin investment properites. Leases prices are in some areas 20% or more than last year. Purchasing an investment property whether single or multi-family property will typically have a slightly higher interest rate and a larger downpayment. With Austin inventory down, rents have increased making this a strong market for investors.